Corporate Briefing Session for FY 2021-22 at Crescent Jute Products Limited
Crescent Jute Products Limited conducted a corporate briefing session for the year ended June 30, 2022. The session highlighted the company's vision to lead the global market in producing quality jute products and its mission to enhance quality, productivity, and community support. However, challenges such as working capital shortages and reduced demand led to the closure of operations in 2011, resulting in accumulated losses and negative equity.
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CORPORATE BRIEFING SESSION For the Year Ended June 30, 2022 Crescent Jute Products Limited
COMPANY PROFILE CORPORATE BREIFING FOR FY 2021-22
COMPANY PROFILE CORPORATE BRIEFING SESSION - CJPL We are a Public Listed Company, incorporated in 1964. Scrip of Crescent Jute Mills Limited (CJPL) on PSX is with a market ticker of CJPL. Being a manufacturing concern company was engaged in the manufacturing and sale of jute products including jute bags.
VISION & MISSION STATEMENT CORPORATE BREIFING FOR FY 2021-22
CORPORATE BRIEFING SESSION - CJPL VISION We, at Crescent Jute, will establish and sustain our position as market leaders in the global market by producing quality jute products while setting standards of professional excellence.
CORPORATE BRIEFING SESSION - CJPL MISSION Continuously striving for enhancement in quality and productivity. Creating new and non-traditional Jute based products through active research. Positioning ourselves as preferred employer through development of professionals who uphold a positive, healthy and honest organizational culture for an enabling work environment. Exploring new markets and opportunities, while maintaining a satisfied customer base. Supporting the community to keep the environment clean to generally improve the quality of life. Visibly work towards the material well being of all stakeholders.
OPERATIONAL PERFORMANCE CORPORATE BREIFING FOR FY 2021-22
OPERATIONAL PERFORMANCE CORPORATE BRIEFING SESSION - CJPL Due to shortage of working capital and reduction in demand of finished goods resulted in the closure of Company's operations since May 02, 2011. The Company in its Annual General Meeting on October 31, 2011 decided to dispose of the property, plant and equipment of the Company. Whole of the property, "&"plant and equipment has been disposed of uptill June 30, 2019. Moreover the Company has suffered accumulated loss of Rs. 452.7 million as on 30 June 2022 which has turned equity into negative balance of Rs. 179.42 million.
FINANCIAL PERFORMANCE CORPORATE BREIFING FOR FY 2021-22
FINANCIAL PERFORMANCE CORPORATE BRIEFING SESSION - CJPL Period Ended June 30, 2022 Other Income 65,513 Administrative Expenses (11,087) Other Expenses (459) Finance Cost (2,541) Profit / (Loss) Before Taxation 51,426 Taxation (210) Profit / (Loss) After Taxation 51,215 No revnue in FY 21-22 as company is non operational. The other income is mainly due to Profit o bank deposits Rs. 1.7million and markup payable written off Rs. 63.7 million.
STOCK INFORMATION CORPORATE BREIFING FOR FY 2020-21
STOCK INFORMATION CORPORATE BRIEFING SESSION - CJPL Accounts for the year ended June 30, 2022 show a profit of Rupees 51.22 million, as compared to a profit of Rupees 55.83 million in the corresponding period in 2021, while the profit per share was 2.16 as compared to last year s profit per share of 2.35. This Profit is primarily attributed to the write-back of accrued markup of Bank of Punjab. The administrative and other expenses are incurred for the legal and professional expenses and the cost of minimum staff required for managing the corporate and financial affairs of the company. The management is in the process of implementing the closure plan approved by the BOD and Shareholders. There were two parts of this plan i.e. Disposal of Assets and Future Business plan. Currently company don not have funds for future business plan and if a possibility come up we will put it up for approval to the Shareholders.
